Vitalik Buterin schießt gegen die Kritiker des zukünftigen Konsensverfahrens von Ethereum zurück.
Russische Zentralbank wehrt sich gegen Einführung von Stablecoins
Die russische Zentralbank würde nur einen digitalen Rubel als digitales Zahlungsmittel anerkennen, keine Stablecoins.
Pocket Network launches TriForce
Pocket Network, a Web3 app blockchain data ecosystem, has launched an initiative to sustain blockchain community growth called TriForce.
It gives communities an incentive to fortify ties and be a part of Pocket Network’s growth trajectory, Coin Journal learned from a press release.
The initiative will enable community members to sustain and grow blockchain traffic for their different ecosystems. This way, they will also help the network offer RPC services to highly decentralized crypto networks.
Shards support community growth
Each TriForce has three components, collectively referred to as shards. These components describe how each TriForce can benefit blockchain communities with individual expertise.
Ultimately, the three-pronged support program will provide them with the tools to survive and thrive. The following areas are subject to involvement by blockchain communities:
- Business Development
- Marketing
- Technical Support
Pocket DAO will allocate funds to encourage eligible communities that want to use Pocket nodes to strengthen their blockchain ecosystems.
Pocket DAO will also allocate budgets for communities that qualify and reward members in proportion to their contributions to current incentives.
Shards help pursue shared goals
Shards will have collective goals for the benefit of all ecosystems, even though each one will operate semi-independently.
Pocket Network aims to provide quick support to as many blockchains as possible and has asked community members for commitment to fast-track this goal.
Michael O’Rourke, CEO of Pocket Network, said:
As the internet moves away from the top-down model synonymous with Web2, community-centric models for project management, treasury oversight, and key decision-making have risen to prominence. Pocket’s TriForce program aligns with this narrative, supporting the open discourse and grassroots engagement that is a mainstay of Web3.
Pocket Network expects blockchain communities to identify new network growth opportunities and take responsibility for developing new on-chain use cases as the TriForce program takes effect.
The network aims to integrate 100 blockchains by the end of the year, up from 50 at the moment.
About Pocket Network
Pocket Network is a platform built for applications that use cost-efficient economics to coordinate and distribute data at scale.
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Cronos and Covalent partners to simplify on-chain data access for developers
Cronos, a layer-1 blockchain built on Cosmos SDK, has announced a partnership with Covalent. The partnership comes as a relief for developers who are willing to venture into the Web3 innovations. The partnership aims at simplifying on-chain data access for data analysts and developers.
In addition to the simplification of the workflow for their participants, Cronos and Covalent will work together to bring out the transparency of on-chain data to crypto wallets, investors, and others. With this partnership, they will be able to make Web3 experience great while allowing developers and projects access to information that will power decentralized applications.
Benefits to Cronos and Covalent ecosystems
While explaining the working principle of this integration, Covalent CEO and co-founder, Ganesh Swami, said that the Covalent Unified API which is a code-free solution for developers will work on adding another layer of simplicity by sourcing all the relevant information.
Swami also added that developers’ experience level will be a bonus, however, he noted that this will not be a hindrance for those seeking to create projects with little or no coding experience.
Cronos chain and Cronos Labs managing director, Ken Timsit, also supported this noting that there is a need to have a simple unified solution that will boost successful Web3 adoption. He also added that Cronos identifies with the Web3 ecosystem growth and with the Covalent Unified API, Cronos will be able to meet the developers’ rising expectations as they try to find a better user experience, functionality, and utility.
In addition, the Covalent Unified API will simplify the workflow as well as increase the efficiency and time to markets saving developers time that they consume while trying to find their work.
Cronos and Covalent achievements
Cronos is compatible with Ethereum Virtual Machine (EVM) and is backed by Crypto.com, Crypto.org, and more than 300 application developers. Cronos’ plan is to onboard over 50 million users by offering an ecosystem where developers can develop DeFi applications and GameFi.
One of the recent Cronos team achievements is the recent launch of a $100 million accelerator program fund by Cronos Labs aimed at helping developers shape the future of Web3 by creating new projects.
On the other hand, Covalent has been providing Unified API services to allow Web3 data points visibility. It powers over 1,000 applications with over 27,000 developers depending on it.
Some of the many data points that Covalent Unified API allows access to include decentralized exchange transactions, token balances, and ERC20 token transfers.
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Ether could slip below $1k as the broader market retraces
The cryptocurrency market has lost the gains it recorded on Monday and could face further losses soon.
The cryptocurrency market has recorded heavy losses over the past 24 hours. The market has wiped out nearly $50 billion in the last 24 hours, with the total market cap down around $870 billion.
Bitcoin, the world’s number one cryptocurrency, is trading below the $20k psychological mark for the first time in a week after losing more than 4% of its value in the last 24 hours.
Ether maintains its position as the second-largest cryptocurrency by market cap. However, it has lost more than 7.5% of its value over the past 24 hours. ETH is currently trading around $1,060 and risks dropping below the $1k mark for the first time this month.
In the last seven days, ETH has shed more than 6% of its value and further losses could await the native token of the Ethereum blockchain.
Key levels to watch
The ETH/USD 4-hour chart is bearish at the moment as Ether has been underperforming over the past 24 hours. The technical indicators show that Ether is the worst performer amongst the top 10 cryptocurrencies by market cap.
The MACD line has dropped below the neutral zone and currently stands at -41, indicating bearish momentum.
The 14-day relative strength index of 23 shows that Ether is currently in an oversold position.
If the bearish trend continues, ETH could drop below the $1,000 mark for the first time in a month. In the event of an extended bearish performance, ETH could lose it second major support level around $935.
However, if the bulls regain control, ETH could reclaim its price above $1,100 before the end of the day. The second major resistance level at $1,172 should cap further upward movement in the short term.
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